Today we have seen some pretty depressive figures within the markets. This morning, the general consensus was red with all major coins taking a tumble, some tumbles notably larger than others.
It did look as if Bitcoin would finally drop below $9,000.00 and it now seems that Ripple may even have cemented itself within the $0.70 region, with that in mind though, as we enter Wednesday afternoon, it does look as if the markets may start to be changing direction, in an assault that seems to be led by Ethereum.
At the time of writing, Bitcoin is valued at $9,247.39 and is down just 0.08%. It seems that Bitcoin is moving further way from $9,000.00 suggesting that today at least, is not the day we will see it stoop below this threshold.
At the time of writing, Ethereum is valued at $745.90 and is now up 0.90%. Granted, this rise of 24-hours is tiny, however Ethereum looks to be the first major currency in the green today. With other near by currencies decreasing the gradient of their descent, it does indeed look as if the markets could be taking an upswing, soon enough.
Even Ripple seems to be clinging on to the $0.80 threshold, at the time of writing XRP is valued at $0.802, down just 1.61%.
Elsewhere, we are seeing some more climbs begin to take place, with VeChain, Tether and Verge all back in the green, up 2.47%, 0.01% and 1.08% respectively.
Admittedly, these figures are pretty low at the moment, this turn in direction however has only really occurred as I write this article, so, we won’t be able to assess the full scale of this for a few hours or so. What I mean here is that, by the time you read this, we could see one of two things.
Firstly, the markets could take an upswing and could recover from this mornings drought, bringing all currencies back up to their May mean values.
Secondly, the currencies that seem to be moving back up could just be exposed to coincidence, if the markets remain red overall then by this afternoon, we could see Ethereum pushed back down and thus, we could see today’s overall decline, continue into tomorrow.
Hopefully, we see the former instance take place. If the markets do start to climb we could see familiar figures start to reoccur, putting the markets in good stead for taking advantage of any future bull runs that we may very well see through May. Fingers crossed.
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